# Referee Response: Bootstrap Standard Errors (200 iterations, cluster by country)

| Dep Var | Variable | Coef | Analytic SE | Bootstrap SE | Boot 2.5% | Boot 97.5% | Boot p | Sig |
|---|---|---|---|---|---|---|---|---|
| log_patents | Z_1 | -6.9098 | 3.2132 | 7.0100 | -19.6504 | 4.3527 | 0.5000 |  |
| log_patents | Z_2 | 1.1830 | 0.4786 | 0.9420 | -0.3367 | 2.9572 | 0.2900 |  |
| log_patents | Z_3 | -0.0484 | 0.0195 | 0.0352 | -0.1166 | 0.0093 | 0.1600 |  |
| hightech_exports_share | Z_1 | -75.2644 | 29.8131 | 41.7288 | -181.7805 | -17.6223 | 0.0100 | ** |
| hightech_exports_share | Z_2 | 10.4690 | 4.2857 | 6.1723 | 1.8885 | 26.3806 | 0.0100 | ** |
| hightech_exports_share | Z_3 | -0.3884 | 0.1698 | 0.2467 | -1.0253 | -0.0414 | 0.0200 | ** |
| patents_per_million | Z_1 | -2234.5947 | 1196.5612 | 1514.2974 | -5418.3089 | 110.0073 | 0.1000 |  |
| patents_per_million | Z_2 | 355.4201 | 178.2316 | 235.9720 | -21.0960 | 819.9361 | 0.1000 |  |
| patents_per_million | Z_3 | -13.9983 | 7.2627 | 9.4385 | -31.8504 | 1.3032 | 0.1100 |  |

*200 cluster-bootstrap iterations, resampling countries with replacement.*
